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Such a failure is a civil breach of trust and can leave a neglectful or dishonest trustee with severe liabilities
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https://en.wikipedia.org/wiki/Trust_law
Such a failure is a civil breach of trust and can leave a neglectful or dishonest trustee with severe liabilities
https://en.wikipedia.org/wiki/Power_of_attorney
An attorney has power to act on behalf of the person; this power can be misused, for example, to steal the assets of a person who may be vulnerable (e
https://en.wikipedia.org/wiki/Estate_planning
Federal income tax purposes, a life insurance trust could be used to pay estate taxes
https://en.wikipedia.org/wiki/Probate
After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly
https://en.wikipedia.org/wiki/Bankruptcy
The Statute of Bankrupts of 1542 was the first statute under English law dealing with bankruptcy or insolvency
https://www.uscourts.gov/services-forms/bankruptcy
Court Programs
Bankruptcy Bankruptcy helps people who can no longer pay their debts get a fresh start by liquidating assets
https://www.irs.gov/businesses/small-businesses-self-employed/estate-tax
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Sites: en.wikipedia.org (5) · www.uscourts.gov (1) · www.irs.gov (1)